Managing risk and compliance can be a challenging and manual process since both physical and digital records need to have retention rules applied to them. Keeping data in perpetuity is no longer an option because companies are subject to fines for non-compliance with privacy regulations, such as GDPR and the California Consumer Privacy Act. According to the European Data Protection Board, since the enforcement of the GDPR, there have been approximately 90,000 separate data breach notifications. As the stakes for companies to comply continue to rise, so will the challenge to keep up with the ever-changing regulations.
With the integration of Iron Mountain Policy Center and OnBase, organizations can gain the confidence that comes from having full awareness of all relevant regulations and an automated ability to apply policy to an ever-growing enterprise information repository.
We know from working with our customers that information governance and retention policy require constant vigilance to maintain regulatory compliance, said Raymond Aschenbach, Senior Vice President, Global Digital Sales & Operations at Iron Mountain. Automating the application of policy helps ensure compliance with legal retention requirements and reduces the cost and risk of having to do it on your own. The document retention regulations in Iron Mountain Policy Center are backed by world class research from our international network of law firms and updated to reflect the latest relevant regulatory changes.
The new GRaaS solution addresses the heavy legal and labor costs needed to understand and manage document and information retention policies, providing customers with immediate value. Organizations can shift from manual and time-consuming processes that are subject to human error into a modern, automated system that increases compliance and speed, said John Phelan, Executive Vice President and Chief Product Officer at Hyland. With an end-to-end solution addressing both the aggregation of relevant policies and updates, as well as the execution of the document retention schedule, Hyland and Iron Mountain can provide customers with confidence and peace of mind.
To learn more about the new GRaaS feature, visit IronMountain.com and Hyland.com.